State Minister for Military Production Mohamed Ahmed Morsy said Monday the ministry is keen on going ahead with meeting demands of the Armed Forces of different ammunition, weapons and equipment with highest accuracy and efficiency.
Morsy added the ministry laid down a plan for development concerning military production over the past period.
The minister pointed out that many achievements were made in this regard.
Morsy further mentioned seven military projects were fully carried out in the investment plan of Fiscal Year 2021/2022 at a total cost of 318 million Egyptian pounds.
He said all needs and demands of the Armed Forces were fulfilled at a value of 2.9 billion Egyptian pounds.
Morsy noted several researches were conducted regarding manufacturing and upgrading various military products.
Despite challenges facing Egypt, like other world countries, over the past period whether because of Covid-19 pandemic repercussions or the Russian-Ukrainian war, many great achievements were made such as the implementation of many vital, developmental and national projects in all domains to serve the interests of citizens and establish a strong economy and an unprecedented infrastructure, according to him.
The State Ministry for Military Production is taking part in carrying out several projects, he asserted.
Media Adviser to the minister and the spokesman for the ministry Mohamed Eid Bakr said that Morsy affirmed that in spite of negative impacts of recent global crises, the Egyptian economy has been resilient while dealing with all such crises professionally.
He attributed the economic successes to efforts exerted by the state institutions to implement directives of President Abdel Fattah El Sisi about achieving comprehensive structural and economic reforms, developing the state institutions and launching giant national projects as well as encouraging the private sector to invest and pay a greater attention to small and medium-sized projects.
Source: State Information Service Egypt